Leading international law firm Freshfields Bruckhaus Deringer is advising Columbus International Inc and its shareholders on the sale of Columbus to Cable & Wireless Communications plc.
Columbus is a privately-owned diversified telecommunications company with operations in the Caribbean, Central America and the Andean region.
Cable & Wireless has agreed to pay approximately USD1.85bn for Columbus and will also assume Columbus’s existing net debt of approximately USD1.17bn. The consideration will be settled through the payment of cash and the issue of new ordinary shares in Cable & Wireless to certain Columbus shareholders. Completion is expected to take place in Q1 of 2015 and is conditional on certain regulatory approvals as well as Cable & Wireless shareholder approval.
The Freshfields team, which is being led by corporate partner Piers Prichard Jones and corporate associate Katie Brown, is advising on the UK aspects of the transaction, with support from Mills & Reeve (led by Tom Pickthorn).
The Freshfields and Mills & Reeve teams have worked closely with CII’s other legal advisers, including Cox & Palmer (lead transaction counsel, led by Wayne Myles, Q.C.), Patterson Belknap Webb & Tyler (special US bond counsel, led by Herman Raspe) and Bingham McCutchen (special USA regulatory counsel, led by Ulises Pin & Hill Wellford).
Source: www.freshfields.com
